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Scotiabank Surges on Record Quarterly Earnings Beat

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The Story

News Summary

  • Bank of Nova Scotia delivered record quarterly earnings, beating forecasts with adjusted EPS of $2.28 against $2.10 expected.
  • Revenue reached $10.54 billion, driven by strong capital markets and expanding Canadian banking margins, sending shares up 5% and prompting Jefferies to raise its price target to $119.
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